Bitcoin climbs to $77,500 on Trump ceasefire extension, Strategy’s $2.5 billion buy
Bitcoin traded at $77,541 on Wednesday morning, up 2.2% over 24 hours and 4.3% on the week, after Trump extended the Iran ceasefire and Strategy disclosed its largest BTC purchase in 17 months.
What to know:
- Bitcoin climbed to about $77,500 as traders reacted to President Trump’s decision to extend the Iran cease-fire and to Strategy’s $2.54 billion purchase of 34,164 bitcoins, its largest buy since 2024.
- The new acquisition lifts Strategy’s holdings to 815,061 bitcoins, putting the position modestly in profit and coinciding with $1.4 billion in weekly inflows to global crypto funds, led by bitcoin and ether.
- Analysts say bitcoin’s move above key short-term holder levels and rising institutional adoption, including from Japanese investors, reduce near-term liquidation risk, though a sustained rally may hinge on clearing $80,000 and geopolitical developments in the Strait of Hormuz.
S&P 500 futures rose 0.5% and Nasdaq 100 futures gained 0.6% after Trump’s extension, though the underlying benchmarks closed lower Tuesday as talks briefly wobbled. Brent crude hovered near $98 a barrel. The MSCI Asia Pacific Index slipped 0.7% as investors weighed how long the Middle East conflict runs.
Trump blamed negotiation collapses on what he called a “seriously fractured” leadership structure in Tehran, and said the US would hold off on fresh attacks while keeping its Strait of Hormuz blockade in place.
Strategy’s buy is the largest bitcoin purchase by the company since November 2024. The 34,164 BTC acquisition at an average $74,395 per coin brings the firm’s holdings to 815,061 BTC, bought for $61.6 billion at an average cost basis of $75,527. With bitcoin at $77,541, the position is now modestly in profit for the first time in months.
